F.No. 225/195/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi Date- 18th October, 2016 Order under Section 119 of the Income-tax Act, 1961 In order to mitigate the difficulties being faced by the taxpayers in the State of Jammu & Kashmir in filing income tax returns and reports of audit for Assessment Year 2016-2017 by the ‘due date’, as prescribed under section 139(1)...

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Category : Income Tax | Comments : 0 | Hits : 1307

F.No. 279/Misc/M-77/2011-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ARO Division) New Delhi, the 18th October, 2016 To, All Principal Chief Commissioners of Income Tax. Madam/ Sir, Sub:- Modifications to the Instruction No. 6/2016 for engagement of Special Public Prosecutors (SPPs) to represent the Income Tax Department before Courts of Session and its subordinate courts- Reg. × Ref:- CBDT Instruction No. 6/201...

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RBI/2016-17/81DBR.NBD.No.26/16.13.218/2016-17 October 6, 2016 Chief Executive Officers of Small Finance Banks Madam / Dear Sir, Operating Guidelines for Small Finance Banks Please refer to theGuidelines for Licensing of Small Finance Banks (‘Licensing Guidelines’) dated November 27, 2014, under which in-principle approvals / licences were issued to the applicants for setting up of the small finance banks. 2. The need for separate Operating Guidelines for small finance banks was...

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RBI/2016-17/80DBR.NBD.No.25/16.13.218/2016-17 October 6, 2016 Chief Executive Officers of Payments Banks Madam / Dear Sir, Operating Guidelines for Payments Banks Please refer to theGuidelines for Licensing of Payments Banks (‘Licensing Guidelines’) dated November 27, 2014, under which in-principle approvals/ licences were issued to the applicants for setting up of the payments banks. 2. The need for separate Operating Guidelines for payments banks was examined, considering the...

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RBI/2016-2017/79FIDD.CO.Plan.CO.BC.No.17/04.09.001/2016-17 October 6, 2016 The Chairman / Managing Director /Chief Executive Officer[All scheduled commercial banks(excluding Regional Rural Banks)] Madam/Dear Sir, Priority Sector Lending - Revised Reporting System Priority Sector guidelines were revised videcircular FIDD.CO.Plan.BC.54/04.09.01/2014-15 dated April 23, 2015. Accordingly, quarterly and annual monitoring formats for reporting priority sector lending were issued videcircular FIDD...

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RBI/2016-17/78A.P. (DIR Series) Circular No. 05 October 06, 2016 ToAll Category - I Authorised Dealer Banks Madam/Sir, Import Data Processing and Monitoring System (IDPMS) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited toA.P. (DIR Series) Circular No.65 dated April 28, 2016read with Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Management (Current Acc...

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Circular No. 46 - Dated 04-10-2016,Guidelines for launching of prosecutions in relation to offences punishable under Custom Act...

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RBI/2016-17/75 REF.No.MPD.BC.381/07.01.279/2016-17 Ashwina 12,1938(Saka) October 4, 2016 To All Primary Dealers Dear Sir/Madam, Standing Liquidity Facility for Primary Dealers Please refer to theFourth Bi-monthly Monetary Policy Statement, 2016-17-Resolution of the Monetary Policy Committee (MPC), in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 25 basis points from 6.5 per cent to 6.25 per cent with immediate effect. 2. Ac...

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RBI/2016-17/74 DBR.No.Ret.BC.19/12.01.001/2016-17 October 04, 2016 The Chairperson / CEOs of all Scheduled and Non-Scheduled Banks, Dear Sir, Change in Bank Rate Please refer tocircular DBR.No.Ret.BC.90/12.01.001/2015-16 dated April 05, 2016on the captioned subject. 2. As announced in theFourth Bi-Monthly Monetary Policy Statement 2016-17 dated October 04, 2016, the Bank Rate stands adjusted by 25 basis points from 7.00 per cent to 6.75 per cent with effect from October 04, 20...

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Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 1st October, 2016 G.S.R. …… (E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely: — 1. (1) These rules may he called the Companies (Incorporation) fourth Amendment Rules, 2016. (2) Sav...

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RBI/2016-17/72 A.P. (DIR Series) Circular No. 4 September 30, 2016 To, All Authorised Persons Madam/Sir Investment by Foreign Portfolio Investors (FPI) in Government Securities Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified videNotification No. FEMA.20/2000- RB dated May 3, 2000, as amended from time to time....

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Circular No. 201/11/2016 - Service Tax, Dated 30/09/2016 -Guidelines for arrest in relation to offences punishable under the finance act 1994 & central excise act 1994....

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Category : Service Tax | Comments : 0 | Hits : 1141

F.No.225/195/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, ITA.II Division, New Delhi, Dated : 30th of September, 2016 Order under Section 119 of the Income-tax Act, 1961 dated 9th September, 2016 In continuation of order u/s 119 of the Income-tax Act, 1961 dated 9th September, 2016 and clarification thereof dated 14th September, 2016, both vide F.No. 225/195/2016/ITA.II , it is further clarified that th...

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Circulars No. 1049/37/2016, Dated 29-09-2016 -Revised Monetary Limits for Adjudication of Show Cause Notice in Central Excise & Service Tax...

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Category : Excise | Comments : 0 | Hits : 1425

RBI/2016-17/71 DBR.CID. BC. No.17/20.16.003/2016-17 September 29, 2016 The Chairmen / Chief Executive Officers of All Scheduled Commercial banks (including RRBs), All India Financial institutions (EXIM Bank, NHB, NABARD and SIDBI) Dear Sir/Madam Publishing of photographs of Wilful defaulters Please refer to ourMaster Circular on Wilful Defaulters DBR.CID.BC.No.22/20.16.003/2015-16 date...

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RBI/2016-17/70 DPSS.CO.PD No.892/02.14.003/2016-17 September 29, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks / White Label ATM Operators / Payments Banks / Small Finance Banks Dear Madam / Sir, ...

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RBI/2016-17/69 DBR.CID.BC.16/20.16.040/2016-17 September 29, 2016 All Credit Institutions Dear Sir / Madam Grant of ‘Certificate of Registration’ – For carrying on the business of Credit Information – Transunion CIBIL Limited Please refer to ourcircular DBOD.No.CID.BC.84/20.16.042/2011-12 dated March 05, 2012regarding grant of ‘Certificate of Registration’ to Credit Information Bureau (India) Limited. 2. The Company has since changed its n...

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RBI/2016-17/67 FIDD.GSSD.BC.No.15/09.10.01/2016-17 September 29, 2016 The Chairman/ Managing Director All Scheduled Commercial Banks (excluding RRBs and Foreign banks with less than 20 branches) Dear Sir / Madam, Master Circular- Credit Facilities to Minority Communities – Modification Please refer to ourMaster Circular FIDD.GSSD.BC.No.01/09.10.01/2016-17 dated July 01, 2016. 2. In partial modification of the Circular, para 2.1 under “Definition of Minority Commu...

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RBI/2016-17/66 FIDD.CO.LBS.BC.No.16 /02.01.001/2016-17 September 29, 2016 The Chairman and Managing Directors SLBC Convener Banks/ Lead Banks Dear Sir/ Madam, ‘Doubling Farmers’ Income by 2022’ - Measures As you are aware, the Government of India in the Union Budget 2016-17 had announced its resolve to double the income of farmers by 2022. Several steps have been taken towards attaining this objective including setting up of an inter-ministerial committee for p...

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The Income Declaration Scheme, 2016 (the Scheme) has come into effect from 1st June, 2016 and is open for declarations upto 30.09.2016. During the video conference held on 24.09.2016, concern was raised by field authorities that there can be few cases where the assessees may not have PAN but would like to file declaration under the Scheme towards the date of closure of the Scheme. In such cases, the assessee may not get PAN by the date of closure of the Scheme i.e. 30.09.2016...

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Service Tax Return Form ST-3 has been amended vide Notification No.43/2016 dated 28thSeptember 2016. In exercise of the powers conferred by sub-section (1) read with subsection (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994,namely:-...

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-ln exerciseof the powers conferred by sub-scrtions (l) and (2) of Section 469 of the Companies Act, 2013 (18 of 2013), the Cenhal Govenrment hereby makes the following rules further to amend thc Companies (Manangement and Administration) Rules, 20I4, namely -...

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Category : Companies Act | Comments : 0 | Hits : 1188

Custom Circular no. 44, Dated 22/09/2016 - Setting up Custom Clearance Facilitation Committee for Land Customs Stations and Inland Container Depots...

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F. NO. 225/120/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 21st of September, 2016 Subject: Providing information under section 138 of Income-tax Act, 1961- clarification in respect of Notification No. SO 576 dated 23.05.2003 issued by CBDT- regd.- Section 138 of the Income-tax Act, 1961 (‘Act’) deals with mechanism for disclosure of information in respect of assessees under the...

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PRESS NOTE Dated: 21.09.2016 Press Release on FAQ on GST by CBEC The journey to rollout the Goods and Services Tax (GST) has commenced with the enactment of the 101st Constitution Amendment Act, 2016 on 8th September, 2016 and the subsequent notifications. The GST is a new fiscal law and it is necessary that tax officers and the trade are suitably aware of the law. In this backdrop, CBEC as a part of capacity building exercise has prepared a compilation of FAQ on GST. The FAQ will serve...

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Category : Service Tax | Comments : 0 | Hits : 1673

Service Tax Certificate for transportation of Goods by Rail (STTG Certificate), Circular No.1048/36/2016, Dated 20-09-2016...

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Foreign Exchange Management Act, 1999 (FEMA) is administered through the authorised persons and is based on the declarations and averments made to them by persons while undertaking the transactions. The Reserve Bank, therefore, has prescribed various reports and forms under FEMA to be submitted by/ through Authorised Persons/ Authorised Dealer Category – I Banks/ Authorised Banks. Accurate compilations and timely submission of these reports are of critical importance as they not only act a...

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File No. A-27023/21/2016-Ad.VI (A) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 19th September, 2016 OFFICE MEMORANDUM Subject: Installation of Display Board asking people to contact CBI in case of any demand for bribe- reg. The undersigned is directed to circulate a d.o. letter dated dated 05.09.2016 from the Director, CBI, thereby requesting that a message on the following lines in Hindi/Local language and English in ...

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Category : CBDT | Comments : 0 | Hits : 1132

RBI/2016-17/63 DPSS.CO.PD No.812/02.14.003/2016-17 September 15, 2016 All Scheduled Commercial Banks including RRBs/ Co-operative Banks / State Co-operative Banks/ Central Co-operative Banks/ Authorised Card Payment Networks Dear Madam / Sir, Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions – Issuance of EMV Chip and PIN Cards A reference...

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F. No. 225/195/2016-ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 14th of September, 2016 Clarification req. u/s 119 of the Income-tax Act, 1961 dated 9th September 2016 Central Board of Direct Taxes, vide order u/s 119 of the Income-tax Act, 1961 (Act) dated 9th September, 2016, has extended the ‘due date’ for filing of income tax returns by the taxpayers whose accounts are audite...

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